Transsec 5 lists five social bonds on JSE to fund SMEs primarily in minibus taxi industry
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THE Johannesburg Stock Exchange has approved the listing of Transsec 5’s five social bonds aimed at improving access to public transport by funding small, medium and micro enterprises, primarily in the minibus taxi industry.
The bonds would trade on the JSE’s Sustainability Segment, established by the bourse to assist companies to raise debt for green, social and sustainable investment projects.
The 10-year bonds formed part of the first tranche of Transsec 5’s planned R2.5 billion capital raising programme, which was registered with the JSE on May 14.
The five bonds, namely Transsec 5 APS A1, Transsec 5 APS A2, Transsec 5 APS B2, Transsec 5 APS C2, and Transsec 5 APS Omega, would mature on June 20, 2031 and would be up for refinancing between April 20 and July 20, 2024.
Sam Mokorosi, the head: Origination and Deals at the JSE, said the exchange was heartened to see more and more issuers listing on the Sustainability Segment, where they can raise capital that enables them to implement their environmental, social and governance initiatives.
BUSINESS REPORT ONLINE